- Retail sales flat in September. Sales of retail goods barely rose in September. However, cheaper gas weighed on the overall data while spending on automobiles and other goods rose. So-called core spending (which closely follows consumer spending) slipped 0.1%.
- Business inventories unchanged in August. After piling up inventories over two quarters, businesses failed to add more in August as they work through their stockpiles. The slow pace could weigh on Q3 economic growth.
- Fed Beige Book shows modest expansion in last two months. A key report from the Fed’s 12 regional districts shows that wage growth was subdued despite a strengthening labor market. Other key measures show modest economic growth.
- Jobless claims fall to match 40-year low. The number of Americans filing new claims for unemployment benefits fell last week to match the 40-year low reached in mid-July, suggesting that employers are laying off fewer people.
“Live so that you wouldn’t be ashamed to sell the family parrot to the town gossip.” – Will RogersTax Tip: Tips for Financial Aid Applicants If you’re applying for financial aid and need to get an official transcript to fill out the Free Application for Federal Student Aid (FAFSA), here’s how: Use the IRS Data Retrieval Tool on the FAFSA website to directly import your tax information into the application. This process is much faster than requesting a paper transcript that can take 5-10 calendar days to arrive in the mail. Tip courtesy of IRS.gov Click here to view full newsletter including reference articles, golf tips, our recipe of the week and more! Notes on featured image: All index returns exclude reinvested dividends, and the 5-year and 10-year returns are annualized. Sources: Yahoo! Finance and Treasury.gov. International performance is represented by the MSCI EAFE Index. Corporate bond performance is represented by the DJCBP. Past